4/5/2013
Hispanic Americans are more optimistic about their finances than members of the general population, according to an Ipsos Public Affairs poll for New York Life. More than eight in 10 Hispanics (84%) expect their families’ finances to improve in the next four years, compared to 68% of U.S. adults overall who feel this way.
More than eight in 10 Hispanics (85%) who work full-time are confident about their job security, and two-thirds expect to be able to retire without difficulties.
Hispanics are more likely than members of the general population to want help managing their finances and planning for retirement. Almost half of Hispanic adults (49%) would like help managing their finances, compared to 28% of adults overall. Two-thirds of Hispanics (68%) say the recession has increased their desire to provide a financial safety net for families, but this represents a decline from 2010, when 77% felt this way. Four in 10 Hispanics (40%) who feel they’re not providing their families with sufficient financial protection say it’s because they can’t afford to do so, compared to 31% of members of the general public who say so. More than a third of Hispanics (35%) who aren’t providing financial protection for their families need more information on how to do so, versus 15% of the general population.
Almost all college-educated Hispanics (97%) and 88% of those without college degrees believe it’s important for a family to have a financial plan in place. Hispanics (41%) are less likely than members of the general population (47%) to feel that families like theirs can usually afford to pay for their children’s college education.
Source: Ipsos Public Affairs, Julio Franco, associate vp, 31 Milk St., #1100, Boston, MA 02109; 617-526-0057; julio.franco@ipsos.com; www.ipsos-pa.com. Price: Contact for information.
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